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PBS
Sep 9, 2010 6:30pm PDT
you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. one word describes the mood of american businesses these days-- "uncertainty." susie, many companies are flush with cash, but they're not spending it or using it to hire workers because they're uncertain about the outlook on a host of important issues. >> susie: whether it's taxes, tom, new regulations, or health care reform, executives are not sure how these policies will impact their businesses. many economists say that uncertainty is a significant obstacle to economic recovery. >> tom: lawmakers return next week to washington, and republicans are expected to reopen debate on parts of healthcare reform. as stephanie dhue reports that'll add even more uncertainty to the business environment. >> as the november election draws near, senate republicans are sharpening their differences with democrats on health care. senator mike johanns says new requirements for small business tax filing have to go. he's making a case for that on youtube. >> this will mean a mountain of new paperwork for as
PBS
Sep 3, 2010 6:30pm PDT
much of a challenge it's been for us. >> reporter: experts in manufacturing, like jerry jasinowski, aren't surprised. he estimates one fifth of the nation's unemployment problem is structural, meaning there's a mismatch between what people can do and what the economy needs them to do. >> all of this talk about short- term stimulus, even with the good ideas that are sometimes laid out, misses the point that there is not a short-term fix to this high unemployment problem. we are in a new slower growth economy with higher unemployment, and we are going to have to invest a lot more in skill training. >> reporter: but greenblatt's strategy is to keep costs low, move fast and deliver high quality. that's how he beats china. to do that, he says, he needs workers right now. so why don't you just train them, isn't that the solution? >> : that's a good strategy, the problem is that we're lean. and when you're lean, you don't have a lot of people who are around who have free time to train. >> reporter: other employers we spoke with say some jobs are hard to fill, but for different reasons. so
PBS
Sep 17, 2010 6:30pm PDT
, and thanks for joining us. susie gharib is off tonight. i'm joined by my colleague suzanne pratt. gold prices have never been this high, suzanne, topping $1,277 an ounce in today's trading. >> suzanne: tom, gold's not the only metal shining on wall street. silver is at a 30-year high, closing at $20.82 an ounce. >> tom: been quite some rally, but the high prices metals are getting aren't scaring off buyers. as scott gurvey reports, the big rally in metals is expected to continue. >> reporter: five records in six weeks. it seems all that glitters on the futures exchanges are contracts in gold. analysts at goldman sachs, the royal bank of scotland and deutsche bank all published research notes making the case for the yellow metal today. analyst jim steel at h.s.b.c. says there are many reasons to expect the trend to continue. >> we still have a lot of financial market fragility, a lot of uncertainty about the economy going forward. we've had the reintroduction of quantitative easing, and we've also had a lot of volatility in the currency markets. when you combine all those things,
PBS
Sep 24, 2010 6:30pm PDT
is probably behind us. the concern about a double dip is over and that now we should take advantage of the favorable seasonals in particular now that the mid term elections will soon be over. >> tom: the blue chips surge nearly 200 points, closing out a fourth straight week to the upside. you're watching "nightly business report" for friday, september 24. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. the bulls are back on wall street. tom, investors were enthusiastic on some encouraging economic news: orders in august for things like machinery and computers were stronger than expected. >> tom: susie, this is the fourth week in a row that the major stock averages were positive and in a big way. let's run down the numbers from today's action. the dow jumped almost 200 points. the nasdaq added 54 and the s&p 500 rose 24. those indexes were up roughly 2% eac
PBS
Sep 8, 2010 6:49pm PDT
over a 52-week low over demand with the semiconductors. does this worry you? >> it doesn't worry us longer term, and this is absolutely the right time to pick up a name like this. there isn't a lot of net debt on the balance sheet. they have actually been a consolidator, and this is a great time to enter this marketment we think there be much more consolidation. >> tom: mark, when you talk about long-term, is it 12, 18 months, or longer? >> probably a couple of years. >> tom: f.m.c. technology is unique in technology. it is really an oil services technology ferm. it has had a nice rally off the summertime lows. what is the catalyst? >> part of it was the concerns about the cessation of deepwater drilling. we recently added this name because they're one of the more environmentally-friendly players in the industry. they have an excellent safety record. we think longer term, they will continue to be safe drilling. this is one of the ways to play that. >> tom: back on march 17th, you were with us in the springtime. eastman kodak, off by almost 40%. sineron medical, off by 24%. and ameri
PBS
Sep 29, 2010 6:30pm PDT
still a very high unemployment rate. and would indicate that it's going to take us quite a while before we get to full employment. >> susie: so if the economy grows 3.5% or more, as you're projecting, but the unemployment rate stays high, would you think that the fed has done its job? >> right now we're missing on both of our objectives. the inflation rate is too low and the unemployment rate is too high. so directionally i think it fairly clear which direction we should be moving. how much we should do and exact timing, that's a difficult question that requires a consensus, and that's why we have these meetings every six weeks. but it's clear right now that we're not where we want to be and we need to take some action to get there. >> susie: you can read the transcript of my entire interview with eric rosengren on our website. you'll find it on n.b.r. on pbs.org. >> tom: here are the stories in tonight's n.b.r. newswheel: stocks slipped. the dow fell 22 points, the nasdaq and the s&p 500 were both off about three points. trading volume was down a little on the big board from yesterday,
PBS
Sep 2, 2010 6:30pm PDT
us. ben bernanke said today it's a myth that lehman brothers could have been saved, perhaps preventing the financial crisis. susie, the fed chairman also says he's partly to blame for creating that myth. >> susie: tom, bernanke was the star witness on capitol hill today, answering questions from the financial crisis inquiry commission. the committee was commissioned by congress to figure out why lehman failed, and to answer the bigger question of what caused the financial crisis. >> tom: bernanke's testimony was a look at the lessons learned from the crisis and a look at how to prevent another one in the future. darren gersh reports. >> reporter: speaking to the financial crisis inquiry commission, federal reserve chairman ben bernanke admitted he thought lehman brothers was not merely facing a cash crunch when it failed. he thought the firm was very likely insolvent, a fancy way of saying it couldn't pay its debts. but in 2008, bernanke chose not to share that thought with congress. >> it was a judgment at that moment, with the system in tremendous stress and with other fin
PBS
Sep 3, 2010 5:30pm PDT
so use it as directed and expect to be respected ♪ - ♪ just turn it on and you will see ♪ ♪ that you belong in the company! ♪ ♪ feel the power! - ♪ oh, feel the power! - ♪ feel the power! - ♪ yo! and plug it in! - ♪ plug it in, everybody! - ♪ electric company! ♪ electric company! ♪ electric company! - ♪ electric company! - [sighs] you guys, i have to find that parrot. he can be in danger. so could my reputation as a responsible pet-sitter. - maybe he was kidnapped by a collector of rare birds. - except, from what i read, african greys aren't rare. they're a very common housepet. - maybe he flew down south. maybe we should just be searching downtown. - i don't think pet parrots migrate. - hold on. maybe i could pick up some clues. - there's nothing more impressive than a kid cleaning bird poo. take it away, jess. oh! [squawking and laughing] - there! you heard that sound. - it sounds like a bird squawking. - that squawking is the african grey's mating call. that's what we heard out the window just before t.d. flew away. - oh, maybe t.d. has a girlfriend. - play
PBS
Sep 21, 2010 6:30pm PDT
joins us. the federal reserve kept its key interest rate at zero, but said it's ready to take action to boost the economy when the time is right. that announcement came today as the fed wrapped up its policy meeting in washington. susie, one thing that stood out at this meeting is the fed is getting more worried about inflation. the problem is, inflation is too low, and below what the fed considers acceptable. >> susie: that could be the catalyst for the fed to pump more money into the economy. so what will the central bank do next? suzanne pratt reports. >> reporter: two more meetings. one two-day event in early november, the other in mid december. that's the window the fed has left this year to boost the economy. but, whether the central bank eases monetary policy in the next few months depends on what happens with the economy. and, fed watcher dana saporta says it's clear now that policymakers have linked their next move to inflation, or more specifically, the lack of it. >> i think the fed is loath to use the d-word, deflation. but, that's what they're talking about. if fears of def
PBS
Sep 2, 2010 5:30pm PDT
use it as directed and expect to be respected ♪ - ♪ just turn it on, and you will see ♪ ♪ that you belong in the company! ♪ - feel the power! feel the power! - ♪ oh, feel the power! - feel the power, yo! and plug it in! - ♪ plug it in, everybody! - feel the power! electric company! - ♪ electric company! ♪ electric company! ♪ electric company! - electric company! - i've lost my appetite. - aw, you finished. good boy! - mm! ha! - um, do you really have to wag like that? - i can't help it. when i get happy, i wag. deal with it. - wagging is a basic canine instinct. it's what dogs naturally do. you can't help your instincts. - ok. here's the thing. um, my brother, he's not a dog. he's a person, a human. - but i feel like a dog. ever since that weird lady came up to me and she asked me for the time. see? wait. it's sigmund! it was annie's uncle. he hypnotized me! - wait, wait. so, annie's behind this? - ruff! - what is it, boy? - ruff! [sniffing] i smell something. - oh, the canine sense of smell is really strong. they can pick up a scent from far away. - what scent? what do
PBS
Sep 10, 2010 6:30pm PDT
slow." tom, those are the two words president obama used today to describe the pace of growth in the u.s. economy. and the economy was a big topic at his white house news conference this morning. >> tom: the other big topic, susie, was the president's announcement of his new top economic advisor. he's austan goolsbee. goolsbee has been on the president's economic team. he now becomes chairman of the white house council of economic advisors, replacing christina romer, who left to return to teaching. >> susie: the president used today's press briefing to push his agenda for reviving the economy, from tax breaks to a small business jobs bill. washington bureau chief darren gersh reports. >> reporter: the president today acknowledged what many americans know too well-- economic progress has been painfully slow. still, he urged voters to stay the course this on election day. >> if it was just a referendum on whether we have made the progress we need to, then people around the country will say that we are not there yet. if the election is about the policies that are going to move us fo
PBS
Sep 14, 2010 6:30pm PDT
you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. the nation's retailers had a relatively strong back-to-school selling season, and susie, that has investors and traders wondering how the sector will do this holiday season. >> susie: tom, the commerce department reports retail sales rose for the second straight month in august. sales were up a better-than- expected four-tenths of a percent last month, while july's sales were also revised higher. >> tom: with "back to school" in the rear view mirror, retailers are looking ahead to the holiday selling season. many stores are deciding now how many temporary workers to hire, if any. as erika miller explains, those decisions can provide some important hints about the strength of holiday sales. >> reporter: in brooklyn, under the manhattan bridge, is a gift shop called stewart/stand. it's a family-owned business-- penelope runs the store, while her brother-in-law paul is in charge of the wholesale division. though it's only september, the two are already finalizing holiday hiring decisions. >>
PBS
Sep 8, 2010 6:36pm PDT
" series tonight, jeff yastine tells us how the lack of tax revenue means higher taxes and fewer services for people in the sunshine state. >> reporter: the human impact of the housing bust is well known-- unemployment, families uprooted, and a steep decline in home prices. now, the financial impact is coming home to roost. south florida is home to many examples, like the city of miami. >> this city has to function, and i don't think any of you want to see this city not function. >> reporter: last week, the city of miami called an emergency budget meeting to consider the unthinkable-- cuts in pay and pension benefits for police and fire-rescue crews. >> when considering voting on cuts in benefits, i would ask the commissioners the following question: how much would you have to be paid in order to risk the thought of not seeing your children or loved ones again, or to save a complete stranger? >> and i am confident that the experiment that is being played on city of miami employees is neither just nor legal. >> reporter: faced with plugging a $105 million budget hole by october 1,
PBS
Sep 27, 2010 6:30pm PDT
question: why did you do the deal? >> first of all, airtran brings us a number of things. they have a safe low cost high quality operation. they have a strong low fare brand. but most importantly, it provides us an opportunity to expand our route network. they fly places that we don't. we have very little overlapping routes. but notably, their largest operation is in atlanta. and we have no service to atlanta at all, as one example. it brings us more access to new york's laguardia airport, as well as first-time access for us to reagan national airport in washington d.c.. >> susie: where kelly, why did you do it now? >> i feel like we're ready now. first of all, things are so much better today than they were a year ago. our profit outlook is solid. we have plenty of cash on hand. we have a very strong balance sheet, with credit rating agencies affirming our credit rating today. so financially we're very well prepared for this. we also have a very strong leadership team. who is ready to add this major task to our list. and then we have the tools in place today that we just haven't had
PBS
Sep 16, 2010 6:30pm PDT
fulfill its promise of balanced international trade. they want us to overcome our addiction to chinese-funded debt. >> reporter: so what happens next? the administration is promising to press china on its currency when it meets with other world leaders in korea in november. and then there is the usual talk in congress of passing a tougher law. >> i think the only way that we'll get them to feel we're more serious is if we start moving legislation in this congress that has more teeth. >> reporter: the administration did suggest today that it wants to see china allow it's currency to move about 20% higher against the dollar. since june, the change has been just 1.5%. darren gersh, "nightly business report," washington. >> susie: meanwhile, president obama was talking up the need for american businesses to export more. meeting with his export council, the president renewed his pledge to double the nation's exports over the next five years. he says boosting them means more american jobs. >> the world wants to buy goods and services made in the united states, and our workers are rea
PBS
Sep 23, 2010 6:30pm PDT
to close their markets. >> susie: that's u.s. trade rep ron kirk. he joins us for an exclusive interview about our trade issues with china. you're watching "nightly business report" for thursday, september 23. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. president obama today met with china's premier in new york city, and, susie the leaders of the world's two biggest economies pledged to work together on boosting the global recovery. >> susie: but tom, in their public remarks, the men didn't talk about china's undervalued currency. instead, that's said to have topped the agenda for their private meeting. the issue-- keeping china's currency artificially low puts american exports at a disadvantage overseas. >> tom: lawmakers in washington, meantime, are closer than ever to acting on threats to penalize china over its currency. earlier
PBS
Sep 20, 2010 6:30pm PDT
used to help the fed meet its dual mandate as a senior policy adviser. with unemployment at close to 10%, he says it's clear the economy isn't operating anywhere close to maximum employment, which is closer to 5%. and what about price stability? indicators of core inflation are under 1%, with many prices flat or falling. but that isn't the same as price stability. >> it's possible to have too much of a good thing. >> reporter: why? because periods of high unemployment tend to push prices down and prices are not stable when they are rising or falling too much. >> as inflation starts falling and maybe even veering into deflation, the real value of what you have to pay back goes up and up and up. so it's harder for people who borrow, including the u.s. government, in that regard. >> reporter: with the fed failing to meet either of its mandates, economist josh bivens says the conclusion is clear. >> you're missing both mandates, but in the same direction for once. we're not acting aggressively enough to drive down unemployment, and we're not even acting aggressively enough to get inflati
PBS
Sep 7, 2010 6:30pm PDT
, everybody, and thanks for joining us. too little too late. susie, that's the initial reaction from some business leaders to president obama's latest proposal to give tax breaks for businesses. >> susie: tom, the president will detail the plan tomorrow in cleveland. he's proposing that companies write off 100% of their investments in plants and equipment through next year. >> tom: the administration estimates the plan would cut business taxes by about $200 billion over the next two years. for some businesses, this "expensing" proposal could amount to a half-off sale on new equipment. darren gersh reports. >> reporter: you've probably heard about all those businesses sitting on their money, waiting for things to get better. the president's expensing plan could give executives an incentive to make a big purchase, says small business advocate todd mccracken. >> and what that does is it uses up a lot of extra cash that especially a lot of big companies seem to have right now bur that they're not using, they're not investing. and that has the potential to create jobs. >> reporter: but bu
PBS
Sep 13, 2010 6:30pm PDT
. and, that's a good thing because that's clearly one of the issues that got us into trouble a couple of years ago. >> reporter: some experts also believe the new capital standards will result in the return of juicy dividends, something that's been missing since the financial crisis unfolded. >> the banks have been precluded from paying dividends because they didn't know what capital needed to be, and they had to keep it all. now we see a number of banks that are going to be able to come out next year and raise their dividends. that's important from an investment standpoint. >> reporter: others say banks should now feel more comfortable using their excess capital to buy back shares, make acquisitions or maybe even make new loans. still, the basel agreement consists of broad generalizations without a lot of specifics. credit suisse analyst moshe orenbach says investors need to keep in mind that u.s. regulators aren't done yet making new rules for u.s. banks. >> the most definitive capital standards will be those written by the federal reserve over the course of the next year. an
PBS
Sep 28, 2010 6:30pm PDT
already announced plans for 600 temporary toys 'r us express shops. the associated press is reporting the f.b.i. and the labor department are investigating the former head of the service employees international union for possible corruption. at issue: andy stern's approval of a california union leader's salary. stern resigned from the union abruptly in april. >> tom: still ahead, tonight's word on the street is "frontier." find out why that could be the place for global investors with an appetite for risk. >> susie: $1,300 and then some-- that's where gold prices closed today. gold rallied for the fifth straight day to a new high of $1,308. the precious metal is up 32% in the past year as investors seek safety. long-time metals traders like m.f. global's kevin grady think the buying binge will continue. >> well, i think we definitely hit $1,400 by christmas and possibly $1,500. i think, you know, what you need to look at is, who is going to step up and sell it? the bottom line is that it's very hard for these miners to get the gold out of the ground. >> susie: grady thinks d
PBS
Sep 15, 2010 6:30pm PDT
members to do something real. and this doesn't get us there. >> reporter: the administration proposes increasing enforcement and inspection staff at the pipeline and hazardous materials safety administration. it also wants to raise the maximum penalty for safety violations from $1 million to $2.5 million. safety advocates want the agency to do a better job informing the public about potential problems, and to boost safety inspections. critics say the agency also has to change its culture. case in point: the agency head, cynthia quarterman, used to be an attorney for enbridge. >> the oil company has had two the oil company has had two significant pipeline leaks in recent months. quarterman has recused herself from issues involving the company, including testifying before congress. deputy transportation secretary john porcari defended her today, before the house transportation committee. >> we selected an administrator that had both public and private sector experience. >> reporter: republican bill shuster says it's probably too late for congress to pass legislation this year. >> i don'
PBS
Sep 1, 2010 6:30pm PDT
be our huge seller for us, not just in the u.s., but on a worldwide basis. it is a car with zero emissions. it only produces steam. >> susie: but can you make money on it? >> that's why we are putting so much money in it. we believe eventually we will be able to make money. but it is expensive, but it is the right solution. >> susie: and mercedes benz is an underwriting of "nightly business report." >> tom: worries about the economy took a back seat thanks the better showing by u.s. manufacturers in august. let's take a look at tonight's "market focus." industrial, financial and energy stocks led the way up. all the major sectors were stronger. manufacturers like eaton were pumped up by the industry data showing a healthy expansion. eaton makes products for several industries including automotive, aerospace and even golf club grips. shares jumped almost 8% to a two-week high. engine marker cummins rallied more than 7%, recovering most of what it had lost since mid- august. the firm's corporate bond rating was upgraded by s&p. financial stocks also helped the market. bank of ameri
PBS
Sep 6, 2010 6:30pm PDT
: good evening, everyone, and thanks for joining us for this labor day special edition. the jobs picture just keeps getting worse. tom, back in january, the economy was adding jobs and the recovery was gaining momentum. then europe's debt woes exploded and the global recovery came to a grinding halt. >> tom: susie, the latest employment numbers aren't much help. 54,000 jobs disappeared from u.s. payrolls in august, and the unemployment rate hit 9.6 >> susie: so how bad is the employment picture, and how long will it take to get back to where we were before the recession started? suzanne pratt puts it in perspective. >> reporter: it seems lately that signs like these are extremely hard to come by. even though the great recession may technically be over, the labor market is far from recovered. the nation's unemployment rate hit 10% late last year and has hovered just below there ever since. but economist dan greenhaus says that widely quoted number understates the magnitude of the job crisis and the inequalities within it. >> if you're an advanced degree white guy working not in constructi
PBS
Aug 31, 2010 5:30pm PDT
of concerns about what the treasury yields are telling us, that i think that september might be true to form. >> reporter: as to why september historically is so grim for stocks, experts have a few theories. some say investors refocus on their portfolios after summer vacation. others speculate many americans sell stocks in the fall to pay hefty tuition bills. suzanne pratt, "nightly business report," new york. >> susie: here are the stories in tonight's nbr newswheel. a mixed close on the last trading day of the month. the dow added five points, the nasdaq lost six, and the s&p 500 edged up a fraction. volume climbed a bit from yesterday's pace-- 1.4 billion shares on the big board and 2.1 billion on the nasdaq. minutes from the fed's latest policy meeting show some members think the central bank should provide more support if the economy weakens further. fed officials eventually agreed to reinvest the proceeds from their huge mortgage bond portfolio into treasuries. single family homes in major cities saw a modest price increase in june. the s&p/case shiller home price index ro
PBS
Sep 22, 2010 6:30pm PDT
define what high cholesterol is or how many visits and says, "use good medical management," well, that's an open-ended and very debatable question. >> reporter: also debatable? how disruptive the new law will be. already, insurers including aetna, cigna and humana say they will stop selling plans that cover only children. since they can't limit pre- existing conditions, insurers worry parents will wait until after kids are sick to buy coverage. and this is only the beginning. most of the big changes don't kick in until 2012, including new purchasing pools and the requirement for everyone to have insurance. florida insurance commissioner kevin mccarty expects lots of changes between now and then. >> some companies are going to be deciding whether to stay in the market. we obviously like to see a conservative approach to keep as many people in the marketplace as possible. >> reporter: while there is a lot of uncertainty in the implementation of the health care law, there's also uncertainty about the law itself. florida is one of 20 states suing to block the health care law, and man
PBS
Sep 8, 2010 6:30pm PDT
moving forward with policies that are slowly pulling us out? >> reporter: too slowly, republicans fired back. on jobs, republican leader john boehner argued the president's policies are the problem, and a few new ideas won't change that. >> until this uncertainty and spending is under control... i don't think these are going to have much impact. >> reporter: what does all this politicking mean for your bottom line? first, on those new proposals from the president: $50 billion in infrastructure spending, an expansion and extension of the research and development tax credits, and 100% expensing of new equipment. the last is most likely to become law, and even that analysts consider a long shot. second, whatever the election outcome, there will be less help coming for the economy. goldman sachs washington analyst alec philips says that's one reason his firm is downgrading their economic forecast for 2011. >> there's really three things happening there. one is the fading effect of the 2009 fiscal stimulus bill. number two is our concern that congress will not extend unemployment benef
Search Results 0 to 25 of about 26